When the COVID-19 Pandemic emerged at the height of a booming economy, the American people went into a near-nationwide shutdown. With the population locked in their homes, unemployment expectedly spiked to unprecedented levels. As the pandemic and accompanying lockdowns receded in 2021, businesses reopened, and Americans everywhere returned to work.
President Joe Biden has consistently boasted of “massive job growth” during his administration, using this natural resurgence of economic activity and rehiring after government-created suppression, as a ploy. Now, it isn’t difficult to detect the sheer degree of bad faith and intellectual dishonesty in the president’s taking credit for jobs regained from the lockdowns governments compelled the nation into; nevertheless, this is his espoused narrative.
But the reality behind the numbers tells a different story. For example, over one-third of the 206,000 jobs that were “added” to the economy in June of this year were government jobs.
Contrary to what the Biden Administration would have the American people believe, much of the president’s bragging rights boil down to unnecessary and irresponsible ballooning of bureaucratic institutions. Instead of adding meaningfully contributive jobs to the national economy, Biden’s policies have only inflated the deep state and created more wages for the struggling American taxpayer to supply.
Speaking of the struggling American taxpayer, this artificial job growth, much of which is merely a natural resurgence from an astoundingly intrusive governmental infringement, is not indicative of success on behalf of Bidenomics whatsoever. Inflation continues to rise as a result of irresponsible government spending, far outpacing the rise of wages for working men and women. In fact, when adjusted for inflation, wages have decreased under Joe Biden by 2.2%. Taking into account the massive spike in prices for essential human necessities like food, shelter, and energy, which have all risen by 20-50% in the last 3 years, Americans everywhere are forced to spend more while making less.
On average, Americans are paying over $1,000 more per month than three years ago to cover basic needs. Middle-income Americans are struggling like never before, with many being forced to neglect saving whatsoever while spending more on their credit cards; these are two financial habits that disastrously impact their financial futures.
With the federal government’s unceasing and out-of-control spending, what can Texas do to help mitigate this economic crisis and ease the back-pocket pain induced by the Biden Administration?
Texas leaders and legislators have an opportunity to showcase the success of true fiscally responsible policy. As the 8th largest economy in the world, tackling economic problems to better the lives and opportunities of Texans would serve as an example for the federal government on how to conduct sound fiscal policy. While unable to control the disastrous effects of the President, Texas legislators can deliver on their promises to institute conservative fiscal policy in the Lone Star State.
Eliminating the outrageous property tax in Texas, which outpaces all but five other states, would be a promising start. The last thing Texans need when faced with economic calamity is to continue paying perpetual rent to their government on property that they rightfully own.
Simultaneously, Texas legislators can distinguish themselves from the D.C. Swamp by cutting spending and decreasing the ever-expanding statewide budget. Finally, spending limits can also be placed on local governments, who themselves are far outpacing the increases in population plus inflation in recent years.
Of course, there are many other examples of fiscally responsible steps to be taken. Texans for Fiscal Responsibility will continue to advocate for common-sense economic policy in the Lone Star State. When the federal government is out of control, we must pressure our own legislators to set an example for the good of not only our state but the nation as a whole.
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